DeFi won’t last long without unlocking Bitcoin’s $250B treasure chest
Cointelegraph
Published Nov 08, 2020 09:30AM ET
Updated Nov 08, 2020 11:00AM ET
Decentralized finance is a fairly new, nuanced concept for mainstream audiences. At its core, DeFi promises a revamped global financial system equipped with savings, loans and inventive yield-earning opportunities that enable innovative financial products without centralized gatekeepers. Since Jan. 1, this promise has been met with a demand that has exceeded $11 billion in total value locked, representing a more than 1,550% increase in year-to-date value.
DeFi applications require the on-chain logic of smart contracts. Today, a lot of experimentation and early traction for DeFi applications is happening in the Ethereum ecosystem, using the JavaScript-like language Solidity.
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Written By: Cointelegraph
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